At the moment, the price hovers above the Upper 50% level. It could be considered as the current resistance area. The moving 50% line (yellow) is still below the previous Lower 50% level. This could indicate that price may range between the Median 50% and Upper 50% level. Confluence level at 64610 and 63670. In the meantime, I would place a limit buy order at this levels.
I would also like to introduce another indicator that I am currently testing. I temporarily named it as 'volume oscillator'. This oscillator calculates the difference between the volume of red and green candles.
I find the interplay between the 'predict beta' and 'volume oscillator' very interesting, particularly where the bends occured. I noticed that an upward bend of both oscillators signals an upcoming bullish momentum, and a downward bend of both indicators signals an upcoming bearish momentum. On one hand, a divergence of both indicators signals also an upcomg strong momentum. For example, a downward bend of the volume oscillator and an upward bend of the predict beta indicator signals an upcoming strong bullish momentum.
As of this writing, it seems there will be an upcoming strong bullish momentum as indicated by both indicators. To trade this scenario, I would advise to confirm the signal using RSI divergence strategy. Use length 3 as default setting.
(Both indicators has not been published yet in tradingview)
/please DYOR/trade at your own risk
I would also like to introduce another indicator that I am currently testing. I temporarily named it as 'volume oscillator'. This oscillator calculates the difference between the volume of red and green candles.
I find the interplay between the 'predict beta' and 'volume oscillator' very interesting, particularly where the bends occured. I noticed that an upward bend of both oscillators signals an upcoming bullish momentum, and a downward bend of both indicators signals an upcoming bearish momentum. On one hand, a divergence of both indicators signals also an upcomg strong momentum. For example, a downward bend of the volume oscillator and an upward bend of the predict beta indicator signals an upcoming strong bullish momentum.
As of this writing, it seems there will be an upcoming strong bullish momentum as indicated by both indicators. To trade this scenario, I would advise to confirm the signal using RSI divergence strategy. Use length 3 as default setting.
(Both indicators has not been published yet in tradingview)
/please DYOR/trade at your own risk